Must the seller have 0 assets in order to quaify for FHA short sale
Wells is asking the seller to submit a letter stating that she has zero assets. She has about $5K in the bank, owns a car. She cant say she has 0 assets. I cant get an answer from wells on this so I am stuck with a task in equator that I cant complete.
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Permalink Reply by Short Sale Superstars LLC on
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That likely wouldn't be an issue and if it is, I'd request that a variance be submitted and/or open up a case at HUD. If the borrower owned another home and wasn't occupying the subject property being short sold that would be a cause of concern that Wells & HUD are looking for.
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